Bank Failure
Mainland S&LA
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Closed April 4, 1986 · Houston, TX · FDIC Cert #30342.
- Closing date
- April 4, 1986
- Headquarters
- Houston, TX
- FDIC Certificate
- 30342
- Total assets (last filing before closing)
- $1.00B
- Total deposits (last filing before closing)
- $873.6M
- Estimated loss to the insurance fund
- $1.12B
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Heights of Texas FSB
Context
On April 4, 1986, regulators closed Mainland S&LA, headquartered in Houston, TX. At closing, the institution held approximately $1.00B in assets and $873.6M in deposits. The FDIC record names Heights of Texas FSB as the acquiring institution in the resolution. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $1.12B.
By total assets in its last filing before closing, this is the 213th largest of the 3,526 bank failures in the FDIC record, and the 4th of 162 in 1986. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing, in nominal dollars, and can differ from the balance on the closing day.
Common questions
When did Mainland S&LA fail?
Mainland S&LA was closed by regulators on April 4, 1986.
Who acquired Mainland S&LA?
The FDIC record names Heights of Texas FSB as the acquiring institution in the resolution of Mainland S&LA.
How big was Mainland S&LA when it failed?
Mainland S&LA had approximately $1.00B in total assets and $873.6M in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
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